Northwest Bancshares, Inc. to Post Earnings of $0.24 Per Share in Q2 2022, B. Riley Forecasts (NASDAQ:NWBI)

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Northwest Bancshares, Inc. (NASDAQ:NWBI – Get Rating) – Equity research analysts B. Riley raised their second-quarter 2022 earnings estimates for shares of Northwest Bancshares in a report released Monday, July 11. B. Riley analyst S. Moss now expects the savings and loan company to post earnings of $0.24 per share for the quarter, up from its previous estimate of $0.21 . The consensus estimate of Northwest Bancshares’ current annual earnings is $0.91 per share. B. Riley also released estimates of Northwest Bancshares Q3 2022 earnings at $0.29 EPS, Q4 2022 earnings at $0.29 EPS, Q1 2023 earnings at $0.26 EPS, earnings Q2 2023 earnings at $0.24 EPS, Q3 2023 earnings at $0.21 EPS, Q4 2023 earnings at $0.21 EPS and fiscal year 2023 earnings at $0.93 EPS. Northwest Bancshares (NASDAQ:NWBI – Get Rating) last released quarterly earnings data on Monday, April 25. The savings and loan company reported earnings per share of $0.22 for the quarter, beating the consensus estimate of $0.20 by $0.02. The company posted revenue of $116.36 million for the quarter, versus a consensus estimate of $123.15 million. Northwest Bancshares had a net margin of 26.19% and a return on equity of 9.12%.

Several other analysts have also recently weighed in on the stock. StockNews.com began covering Northwest Bancshares shares in a research report on Thursday, March 31. They issued a “hold” rating on the stock. Piper Sandler downgraded Northwest Bancshares shares from ‘neutral’ to ‘underweight’ and lowered her price target for the stock from $14.00 to $12.00 in a research report Friday, May 6. One equity research analyst gave the stock a sell rating and four gave the company a hold rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.17.

NASDAQ:NWBI shares opened at $12.78 on Tuesday. The company has a market capitalization of $1.62 billion, a PE ratio of 11.51 and a beta of 0.53. The company’s 50-day moving average price is $12.60 and its 200-day moving average price is $13.43. Northwest Bancshares has a fifty-two week low of $12.04 and a fifty-two week high of $15.15. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt ratio of 0.25.

A number of hedge funds and other institutional investors have recently bought and sold shares of NWBI. Vanguard Group Inc. increased its stake in shares of Northwest Bancshares by 2.1% in the first quarter. Vanguard Group Inc. now owns 13,896,726 shares of the savings and loan company worth $187,745,000 after purchasing an additional 284,414 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings of Northwest Bancshares shares by 4.2% in Q1. Dimensional Fund Advisors LP now owns 8,116,084 shares of the savings and loan company worth $109,649,000 after buying 328,495 additional shares in the last quarter. State Street Corp increased its position in Northwest Bancshares by 59.4% in the first quarter. State Street Corp now owns 8,048,444 shares of the savings and loan company worth $108,734,000 after buying an additional 2,999,249 shares last quarter. Invesco Ltd. increased its position in Northwest Bancshares by 8.7% in the first quarter. Invesco Ltd. now owns 3,966,563 shares of the savings and loan company worth $53,588,000 after purchasing an additional 316,431 shares last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Northwest Bancshares by 7.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,645,564 shares of the savings and loan company worth $35,742,000 after purchasing an additional 182,600 shares last quarter. Hedge funds and other institutional investors hold 61.18% of the company’s shares.

In other news, Executive Vice President Ronald B. Andzelik sold 7,590 shares of Northwest Bancshares in a trade that took place on Monday, May 23. The shares were sold at an average price of $12.58, for a total value of $95,482.20. Following the transaction, the executive vice president now directly owns 57,102 shares of the company, valued at $718,343.16. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink. Also, director Deborah J. Esq. Chadsey sold 7,200 shares of the company in a trade that took place on Thursday, May 19. The shares were sold at an average price of $12.50, for a total transaction of $90,000.00. As a result of the transaction, the administrator now directly owns 30,746 shares of the company, valued at $384,325. The disclosure of this sale can be found here. In the past three months, insiders have sold 15,905 shares of the company worth $199,712. 1.00% of the shares are currently held by insiders.

The company also recently announced a quarterly dividend, which was paid on Monday, May 16. Shareholders of record on Thursday, May 5 received a dividend of $0.20. This represents an annualized dividend of $0.80 and a dividend yield of 6.26%. The ex-dividend date was Wednesday, May 4. Northwest Bancshares’ dividend payout ratio (DPR) is currently 72.07%.

About Northwest Bancshares (Get an assessment)

Northwest Bancshares, Inc. operates as the holding company of Northwest Bank, a state-chartered savings bank that provides personal and business banking solutions. The company accepts a variety of deposits, including checks, savings, money market deposits, term certificates, and individual retirement accounts.

Further reading

Earnings history and estimates for Northwest Bancshares (NASDAQ:NWBI)

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